Hong Kong’s incubator for digital technology entrepreneurship, Cyberport, has entered into a partnership with Dubai Future Foundation to foster collaboration and encourage tech companies in both regions to expand into Hong Kong and Dubai. The Memorandum of Understanding (MoU) was signed earlier this year and aims to facilitate knowledge exchange and collaboration in the Web3 applications space.
Under the MoU, Cyberport will support Dubai start-ups to land in Hong Kong through its entrepreneurship programs, funding and landing support, joint events, and seminars. Similarly, Cyberport community start-ups and technology companies will receive funding and landing support in Dubai. This collaboration will enable tech companies to benefit from knowledge exchange and establish their presence in new markets.
Cyberport has seen significant growth in its Web3 Hub, which has attracted over 100 Web3 companies within six months of its inception. With more than 180 Web3-related enterprises, spanning various sectors such as NFTs, metaverse, fintech, and blockchain development tools, Cyberport has become a world-class hub for Web3 start-ups. The companies come from different regions, including 80% local companies, 11% from mainland China, and 9% from overseas.
To promote the development of the Web3 ecosystem, Cyberport offers tailored programs for Web3 start-ups, including support for office space, business development, financial assistance, and opportunities for collaboration. They have organized and supported over 17 Web3 events to facilitate industry exchanges, knowledge sharing, and awareness of different Web3 applications. Additionally, Cyberport has partnered with more than 40 Web3 investment funds and leading blockchain companies to provide technical and network support.
One of Cyberport’s key events, the Digital Entertainment Leadership Forum (DELF) 2023, focused on how digital entertainment experiences are evolving in the era of Web3. The forum gathered more than 3,500 participants and showcased groundbreaking digital technologies from local technology companies across four experience zones.
The partnership between Cyberport and Dubai Future Foundation aims to revolutionize art, education, sports, and lifestyle experiences through the latest technology. With a friendly start-up ecosystem and benefits such as 100% foreign business ownership and tax-free policies, Dubai offers immense appeal for Cyberport’s start-ups. Dubai Future Foundation will facilitate knowledge exchange by providing viable use cases in the metaverse and Web3 applications, enabling Cyberport’s start-ups to gain exposure in the Middle East market.
Through collaborative events and webinars, both regions will enrich their innovation and technology ecosystems and leverage their unique strengths to drive economic growth. The MoU has already resulted in fruitful collaborations between Cyberport start-ups and Middle East companies, showcasing the potential for further success in the future.
Overall, the partnership between Cyberport and Dubai Future Foundation signifies a new era of collaboration and innovation in the Web3 space. By connecting tech companies from Hong Kong and Dubai, this partnership will foster knowledge exchange and drive economic growth, laying the foundation for future advancements in various industries.
